Mon, Jan 26, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Fund administrator GlobeOp reaches new AuA high of $170bn, an increase of 42% in past 12 months

Wednesday, August 03, 2011

Hans Hufschmid
Opalesque Industry Update - Today, independent fund administrator, GlobeOp announced its interim results for the six months ended 30 June 2011.

GlobeOp made strong progress in the first half of this year, reaching a new AuA high of $170 billion – an increase of 42% in the past 12 months. Its revenues, adjusted operating profit, net income and cash continued to grow and all have reached record levels; and middle-, back-office and fund administration (MBA) revenue and risk reporting revenue each grew 23% over the prior year period.

You can read the full results here: Interim results for the six months ended June 2011

Highlights of the first half results include:

• Assets under Administration (AuA) increased 14% in the first half of 2011 to $170 billion as at 30 June 2011 - an increase of 42% in the past 12 months
• 23% growth in revenues to $110.4 million
• 28% increase in adjusted operating profit to $32.4 million
• Adjusted operating profit margin expanded to 29.4% of revenues versus 28.4% in first half 2010
• Cash of $87.8 million as at 30 June 2011 compared to $60.2 million as at 30 June 2010
• 100% increase in interim dividend to 2.00 pence per share versus 2010 interim dividend

Hans Hufschmid, chief executive officer, said: “GlobeOp performed well during the first half of the year. Revenues grew 23% and adjusted operating profit increased 28% compared to the first half of 2010. We added new clients, particularly in the second quarter, and our new business pipeline is building. We have continued to invest in our capabilities and enhanced our marketing efforts while expanding profit margins and generating strong cash flows. We see an array of growth opportunities for GlobeOp and believe recent global volatility will create opportunities for fund managers over time. We remain optimistic about our business and look forward to the second half of 2011.”

(press release)


GlobeOp Financial Services (LSE: GO) is an independent financial administrator specialising in middle and back office services and integrated risk reporting to hedge funds, asset management firms and other sectors of the financial industry – including family wealth, banks, insurance companies, pension funds and corporate treasuries. By outsourcing to GlobeOp, clients can reduce their technology investments and operational risks, while increasing their focus on asset generation and portfolio management. Established in 2000, GlobeOp serves over 200 clients worldwide, representing $170 billion in assets under administration. Headquartered in London and New York, GlobeOp employs approximately 2,000 people on three continents through its 10 offices in the Cayman Islands, India, Ireland, the UK and US. www.globeop.com


Bg

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - U.S. investors favor currency hedged Europe ETFs as euro tumbles, Quants win back investors as Swiss franc fuels volatility gains, David Einhorn's $7bn hedge fund is loading up on this stock, Hedge fund BlueMountain Capital unveils Ocwen Financial short, claims default on notes[more]

    U.S. investors favor currency hedged Europe ETFs as euro tumbles From Reuters.com: U.S. investors stung by the falling euro who want to stay invested in Europe are turning to exchange-traded funds designed to strip out the impact of the region's currency. The biggest among so-called "cur

  2. News Briefs - Millennials use tech tools to jump into investing, Winklevoss twins to launch bitcoin exchange with FDIC insured deposits, Robertson’s legacy from hedge funds to New Zealand, Real estate managers exploring smaller open-end funds[more]

    Millennials use tech tools to jump into investing It is the Facebookification of monetary investing. From social networking platforms that enable young investors to stick to every other's stock-picking mojo, to internet sites for initially-timers hungry for a piece of the Silicon Valley

  3. Top performing private equity firms you should invest in[more]

    Komfie Manalo, Opalesque Asia: Professor Oliver Gottschalg of Paris-based HEC Business School, also known as Ecole des Hautes Etudes Commerciales de Paris has released his annual ranking of the top performing private equity firms. The 2014 HEC-DowJones Private Equity Performance Ranking

  4. Comment - Why invest in hedge funds if they don't outperform the market?[more]

    From Forbes.com: Hedge funds have always been a bit exotic and an enigma to some, but bottom line they are supposed to produce good returns using a range of strategies including global macro, event driven and relative value (arbitrage). And, sophisticated or high-net-worth individuals (HNWIs) could

  5. Owen Li 'truly sorry' for blowing up $100m of hedge fund’s assets[more]

    From CNBC.com: A hedge fund manager told clients he is "truly sorry" for losing virtually all their money. Owen Li, the founder of Canarsie Capital in New York, said Tuesday he had lost all but $200,000 of the firm's capital—down from the roughly $100 million it ran as of late March. "I take r